An asset used in a 4-year project falls in the 5-year MACRS class (MACRS Table) for tax purposes. The asset has an acquisition cost of $10,800,000 and will be sold for $2,400,000 at the end of the project.

Required: If the tax rate is 33 percent, what is the aftertax salvage value of the asset?

$2,223,859

$1,608,000

$2,576,141

$2,335,052

$2,112,666